India’s largest flexible packaging company, UFlex, which started manufacturing non-plastic-based alternative innovative packaging solutions to plastic pouches, is eyeing Rs 1,000 crore revenue from this new product by end of this financial year.
The company is also targeting Rs 4,800 crore revenue from its entire business in 2011-12 against Rs 3,500 crore revenue in 2010-11.
“We expect around Rs 1,000 crore in revenue from this new product by FY12 and expect it to increase over the years,” Uflex group president (finance and accounts), RK Jain, said.
“We are expecting around Rs 4,800 crore revenue by end of this financial year,” he said.
The company has already started manufacturing the eco-friendly product and plans to manufacture around 36,000 tonnes per annum to cater to the market demand.
